The difference between dollarization and a currency board is that

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A currency board allows a country to earn seigniorage, which is the profit made by issuing currency, especially because the local currency is fully backed by a foreign reserve currency, ensuring stability and confidence in the monetary system. Dollarization, on the other hand, involves adopting another country's currency in lieu of a domestic one, which typically results in the forfeiting of seigniorage to the country whose currency is being used.

The Difference Between Dollarization and a Currency Board Is That